Skip to main content
Open an account

Build a starter emergency fund in six months

Saving · 5 minutes read · Money guidance team

An emergency fund turns a surprise bill into an inconvenience instead of a crisis. You do not need to save six months of expenses at once. Build it in steps.

Three stages

  • First goal: £1,000, enough to cover a car repair or a medical co-pay.
  • Second goal: one month of essential expenses.
  • Final goal: three to six months, depending on how steady your income is.

Keep the money somewhere liquid and separate, such as a high-yield savings account, so it earns interest but is not tempting to spend. Automate a transfer on payday and raise it whenever your pay rises.